Boulder-based Clovis Oncology Inc. on Friday reported wider losses for its fourth-quarter and full-year 2013 earnings, but it was the biopharmaceutical firm's update on its cancer drug pipeline that seemed to please analysts and investors — shares climbed as much as 14 percent in trading Friday.

Company officials announced they were initiating studies for the firm's non small cell lung cancer, ovarian cancer and solid tumor-targeting programs.

“This has been a period of rapid progress for our company that we hope will lead to our first New Drug Application (NDA) submission in 2015,” Patrick J. Mahaffy, Clovis' chief executive officer, said in a statement.

After the jump in Clovis' stock (Nasdaq: CLVS), shares closed up $1.24, or 1.58 percent, to $79.62.

For the company's fourth quarter, which ended Dec. 31, 2013, Clovis posted a loss of $29.2 million. During the same period a year earlier, Clovis recorded a loss of $21.1 million.

Last year, Clovis' total net loss was $84.5 million, a wider loss than the $74 million reported in 2012.

The company, which did not have any revenue, had an operating loss of nearly $83.8 million, as compared to a $73.8 million loss during the prior year.

Clovis closed out 2013 with $323.2 million in cash and cash equivalents.

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In November 2013, Clovis acquired Ethical Oncology Science S.p.A., an Italian biopharmaceutical company developing a novel cancer treatment, for $200 million. EOS owns the exclusive global development and commercial rights for lucitanib, a targeted therapy for tumors in patients with certain types of cancer, notably breast cancer.

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